Bandhan Small Cap Fund July portfolio: 15 stocks added, 9 exited; HDFC Bank, AWL Agri see higher holdings

Bandhan Small Cap Fund made several changes to its equity portfolio in July, adding 15 new stocks and exiting nine existing holdings, according to its latest monthly portfolio disclosure. The fund also increased its holdings in 82 companies and reduced its stake in 39 others during the month.

The changes came as the fund attracted ₹ 2,003 crore in July, the highest inflow among small-cap mutual fund schemes during the month. Managed by Manish Gunwani, the fund's assets under management rose to ₹ 31,103 crore at the end of July from ₹ 28,466 crore in June.

HDFC Bank was among the largest increases in the portfolio. Bandhan Small Cap Fund raised its holding from 20.2 lakh shares in June to 39 lakh shares in July, a 93% increase. Its allocation rose from 0.57% to 0.94%.

AWL Agri Business saw a 70% increase in the number of shares held, from 92.31 lakh to 1.57 crore. Its portfolio weight increased from 0.60% to 0.96%. Sterlite Technologies recorded a 208% increase in shares, taking the holding from 9.85 lakh to 30.31 lakh.

The fund also raised its holdings in LT Foods, Cholamandalam Financial Holdings, Godawari Power & Ispat, Electronics Mart India and Fedbank Financial Services.

Bandhan Small Cap Fund reduced its shareholding in 39 existing companies during July.

P N Gadgil Jewellers saw one of the largest reductions. The fund cut its holding from 27.21 lakh shares to 10.02 lakh shares, a 63% decline. Its portfolio allocation fell from 0.51% to 0.22%.

Senco Gold saw its holding fall by 28%, while Amir Chand Jagdish Kumar's share count declined by 35%.

Just Dial was the largest fresh position, with a holding worth about ₹ 79.8 crore at month-end. Jammu & Kashmir Bank followed at ₹ 58.5 crore, while Indo-MIM, ideaForge Technology and UTI Asset Management Company were also among the larger new positions.

Other new positions included L.T. Elevator, Torrent Pharmaceuticals, Laser Power and Infra, Knack Packaging, Kusumgar, City Union Bank and Kamdhenu.

The fund completely exited nine stocks namely JB Chemicals & Pharmaceuticals, Triveni Engineering & Industries, Premier Energies, Karur Vysya Bank, Aster DM Healthcare, Bluestone Jewellery and Lifestyle, Powerica, JSW Infrastructure and Vedanta Oil and Gas.

Bandhan Small Cap Fund has maintained a strong longer-term performance record, particularly over the three- and five-year periods. The fund has delivered 27.16% annualised returns over three years and 20.29% over five years, placing it first and third, respectively, among small-cap funds in its category.

Over the past year, it gained 13.87%, ahead of the BSE 250 SmallCap TRI's 8.91% return, although it trailed the small-cap category average of 14.78%. So far in 2026, the fund is up 11.40%, compared with 8.66% for its benchmark.

Kirti Jha is a Senior Content Producer at Mint, where she writes on mutual funds, taxation, personal finance and macroeconomic developments. Her reporting focuses on helping readers understand complex financial developments through data-driven, research-backed stories that explain how policy changes, market trends and regulatory decisions affect investors and households.